1). Field of the Invention
This invention refers to systems and methods for accessing a secure electronic environment with a mobile device.
2). Discussion of Related Art
Many financial institutions, including banks, credit card companies, loan institutions, brokerage houses, utilize electronically based account systems. The systems are typically accessible by account holder. Financial Institutions are under regulatory scrutiny to deploy multi-factor authentication for online banking transactions, and thus may require a multifactor authenticating process to allow user access to electronically access an account.
Multifactor authentication is usually based on three standard ways to authenticate a customer, (1) something the person knows (e.g. a password), (2) something the person has (e.g. a banking card, time based electronic token), and (3) something the person is (e.g., a picture, a fingerprint). For example, a bank may require a personal identification number (PIN), a bank card, and a picture ID in order access a banking account.
Electronic access to accounts typically is not as secure as physical access to an account. This is because electronic account access is usually based on a combination of the first standard above (1) something the person knows. For example access to an online banking account may require a unique user name and a password. This is a dual factor method of authentication, but does include (2) something the customer has or (3) something the customer is. It is easier to steal and use one or more items in one category of authentication, than to steal and use a combination. For example a malicious spyware program may capture both a user name and a password, which may be used on a foreign device for access to the account.
Mobile devices (e.g. cellular phones, PDA's, VoIP wireless handheld devices) are common devices used by consumers. Multifactor authentication using mobile devices is also required to access web based or private network financial systems. Customers using a mobile device wish to have an efficient method of accessing an account. Multifactor authentication is a more cumbersome process for an account user when using a mobile device than in a typical home, office, or bank setting, and thus user's desire ease of use for accessing an account. However account users wish to have a secure method of accessing a financial account, and do not want easy account infiltration by a foreign mobile device.